Jim Corporation pays its cumulative preferred stockholders $1.30 per share. Jim has 20,000 shares of preferred and 60,000 shares of common. In 2015, 2016, and 2017, due to slowdowns in the economy, Jim paid no dividends. Now in 2018, the board of directors decided to pay out $420,000 in dividends. How much of the $420,000 does each class of stock receive as dividends? Dividends Preferred stock Common stock

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